International Assets Investment Management LLC Grows Position in SL Green Realty Corp. (NYSE:SLG)

International Assets Investment Management LLC grew its holdings in SL Green Realty Corp. (NYSE:SLG) by 8,523.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,486 shares of the real estate investment trust’s stock after acquiring an additional 9,376 shares during the period. International Assets Investment Management LLC’s holdings in SL Green Realty were worth $428,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SLG. Private Trust Co. NA purchased a new stake in shares of SL Green Realty in the 4th quarter valued at $33,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 922 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at $88,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SL Green Realty by 122.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 227 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $50.88 on Friday. The firm has a 50-day simple moving average of $50.51 and a 200-day simple moving average of $43.65. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -6.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.71. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. SL Green Realty Corp. has a 52 week low of $20.51 and a 52 week high of $55.75.

SL Green Realty Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio is currently -36.32%.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial downgraded shares of SL Green Realty from a “buy” rating to a “hold” rating and upped their price objective for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. TheStreet upgraded shares of SL Green Realty from a “d+” rating to a “c-” rating in a research note on Wednesday, January 10th. Piper Sandler reiterated an “overweight” rating and issued a $58.00 target price on shares of SL Green Realty in a research note on Tuesday, March 26th. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research note on Saturday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and an average target price of $47.00.

SL Green Realty Company Profile

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.